As one steps into the Spread Eagle located in Wandsworth, its dire situation may not be immediately apparent.
Despite outward appearances of being a pleasant establishment, with friendly bar staff, delightful Guinness, and a clean ambiance, the underlying issues are significant. On a Thursday evening in January, the pub is bustling with patrons, offering a variety of experiences for different visitors.
During my visit, the clientele varied, from a solitary individual enjoying a meal and a book to mothers with children, and a group of professionals discussing business strategies. While the atmosphere is relatively serene on a Thursday, it is evident that the pub transforms into a vibrant venue on Saturdays, especially with the rugby crowd in attendance, albeit without causing disturbances to guests staying in the uniquely decorated rooms upstairs.
The Spread Eagle exudes a charming appeal, serving three regular cask-conditioned beers and boasting a historically significant pub interior, as recognized by CAMRA. Despite its outward appearance, the pub is facing severe challenges, as revealed by a recent study naming it as London’s most troubled pub.
This unfortunate distinction was conferred by Ben Guerin, a digital communications specialist and coder behind the website ismypubf***ed.com. The analysis conducted by Ben indicated a substantial increase in business rates for the Spread Eagle, with a staggering 622% rise in rateable value from £16,750 in 2023 to £121,000 this year, resulting in an 833% surge in annual tax to £46,452.
Although the Spread Eagle stands out as the worst impacted pub in London percentage-wise, it is just one of 5,000 pubs nationwide facing a twofold rise in property tax. The dire financial outlook for many pubs is underscored by projections that without support, over 2,000 venues could close this year, significantly surpassing the closures in previous years.
The precarious situation faced by pubs has prompted a reevaluation of business rates by the government, aiming to alleviate the burden on establishments struggling with escalating costs. This initiative has been welcomed by industry figures, such as Emma McClarkin from the British Beer and Pub Association, who hailed it as a significant relief for pubs across the country.
As the fate of pubs hangs in the balance, the government’s forthcoming decisions on business rates adjustments are awaited with anticipation by both pub owners and patrons alike.